Kelson Energy Inc. Signs Definitive Agreement To Sell Mississippi Power Plant To Tennessee Valley Authority
Columbia, MD, July 8, 2011 - Kelson Energy Inc., an independent power producer, announced that it has signed a definitive agreement to sell its 968 MW Magnolia Combined Cycle Gas Plant, located in Benton County near Ashland, Mississippi, to the Tennessee Valley Authority (TVA).
Terms of the transaction were not disclosed.
The plant is a modern, fully permitted generating facility with a proven operational history with TVA, located in the TVA service area and connected to the TVA grid. The plant has been a source of purchased power for TVA since it opened in 2003. Kelson has owned the plant since 2005.
The transaction is subject to various closing conditions and required regulatory approvals.
Goldman, Sachs & Co. served as exclusive financial advisor to Kelson for this transaction and White & Case LLP served as Kelson's transactional counsel.
About Kelson Energy Inc.
Kelson Energy Inc. is an independent power producer engaged in the business of owning and operating electric generating facilities.
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Kelson Energy, Inc.